why do we need to plan for retirement

should be the best time of your life, when you can relax and enjoy your life by reaping benefits of what you earn in so many years of hard work. To achieve a worry-free retired life, hereвs why you should plan to plan ahead. 1. Getting stuck in the savings mindset. В People tend to get hung up on how much you save every month. The amount does not matter as long as you set it aside. You can gradually increase the amount that you save over time. for your retirement funds whenever you have extra money, you get a salary raise, or you have finished your payments. 2. Medical emergencies. В With increasing age comes more health problems. Medical expenses which may make a huge dent in your income post retirement. Failure here could lead you to liquidate (sell) your assets in order to meet such expenses. Remember medical claims do not always suffice. 3. Inflation. As you need to worry about it you need to account for it as well. You need to take into account inflation while calculating your retirement funds as well as your expenses. 4. No state sponsored pension plan. В Unlike the US and UK where they have state pensions or social security benefits during retirement, Singapore does not provide such benefits.

So, you are really on your own. 5. Fragmentation of nuclear families. В Gone are the days when the elderly had a family to give them. The culture of the Asian family is changing as couples are having less children. Itвs vital to plan your retirement without any help from your family. Now is the time when you need to make savvy investment decisions during your working life and put your hard-earned money to work for you in future. as mystery and it is true because we do not know what future hold for us. You may be financially stable now but what about the future, you have money but no time to spend it. Retirement Plan is your means to save now and spend when you have all the time in your hand. But many of you have a dozen of excuses for not taking a retirement plan, and they may be valid excuses too or maybe you don t have enough reasons to get a Retirement Plan. Well, in this article, we will share with you five reasons why you need to buy a Retirement Plan now. 1. Tax deductions Money is something which is very precious to us and we want to save it in any possible way. With a Retirement Plan, you can save your tax money in form of tax deductions. Get tax benefits of the premiums you pay and benefits you receive.

So you not only have reduced taxes but also saving for an affordable future. 2. Independent together Your children are there to take care of you in the future but as any good parent you would want your children to live life to fullest without any concerns, this is when Retirement Plan come into the picture. Retirement plan not only secures your future but also the future of your spouse. In case of any accident, your retirement plan will see to it that your spouse is taken care of even when you are not around. With a retirement plan you can rest assured that not only your children but even you and your spouse can have a comfortable independent future together. 3. That dream vacation Most people plan and wait for a retirement age but why wait when you can have an early retirement. With an early retirement, you will have ample time in your hand and you can plan for your dream vacation. We all have our own dream vacation destination and Retirement Plan gives you the opportunity to make that dream come true. But the best part is, you don t have to worry about the money as your Retirement Plan will take care of it. 4. Peace of Mind Life is uncertain but you can secure and protect the future, that s what Retirement Plans are made for.

Imagine a life without any worries, knowing that you ve done everything to secure your future. The peace of mind you derive from it is like no other. People say that peace of mind can be achieved only at old age, well, you can make life easier much ahead. 5. Affordable and Rewarding future Stay ahead of inflation through your consistently growing retirement corpus with bonus. A Retirement Plan is a means of assuring that you, your spouse and your family don t have to deal with future hardships. Today you may not have the time to spend all the money you have, start saving that money now for an affordable and rewarding future. The future is uncertain, unpredictable and we cannot say what holds for us. But the good news is that we can protect our future and take precautions. Retirement Plan is your means to tackle all the uncertainties of life. Imagine the peace of mind you will achieve knowing that your future is secured and protected. And remember, it is not just about but also your family as a whole. Buy your Retirement plan today and sit back and relax, while being ensured that you are ready for a worry free present and a beautiful future.